https://www.taxtmi.com/highlights?id=75014 Addition u/s 68 - bogus LTCG - penny stock transaction - The ITAT observed that even though characteristics of penny stock transactions were present, there was no direct evidence linking the assessee to any manipulative activities. Citing various judicial precedents, including decisions where similar transactions were deemed genuine, the ITAT allowed the assessee's claim of LTCG exemption under section 10(38). en-us Mon, 19 Feb 2024 12:35:41 +0530 Mon, 19 Feb 2024 12:35:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75014 Addition u/s 68 - bogus LTCG - penny stock transaction - The ITAT observed that even though characteristics of penny stock transactions were present, there was no direct evidence linking the assessee to any manipulative activities. Citing various judicial precedents, including decisions where similar transactions were deemed genuine, the ITAT allowed the assessee's claim of LTCG exemption under section 10(38). Highlights Income Tax Mon, 19 Feb 2024 12:35:41 +0530 https://www.taxtmi.com/highlights?id=75014